28 October 2015 Insurance

Longevity business on the agenda at FIDES

Longevity business is a key part of closing the insurance cover gap in Latin America, says Margo Black, head of reinsurance for Latin America South for Swiss Re. Longevity as a re/insurance product is still relatively undeveloped in the region but Latin America is not immune to this growing global issue, which Black will be exploring in a panel discussion on day three at FIDES.

“Longevity business is something we at Swiss Re are looking at because it is part of the insurance gap that we feel needs to be addressed. It is a complex subject and one of the main difficulties is getting reliable information—and that information varies from one country to another,” she said.

“Swiss Re has a lot of expertise in this line of business in other parts of the world so our strategy is to use that knowledge and explore the possibilities that are in Latin America.”

The presence of this topic on the agenda at FIDES reflects a growing interest in life and health topics in the region, she added.

Swiss Re’s presence in Latin America goes back 100 years, said Black, and in the past three to four years it has invested heavily in the region.

“We realise the region as a whole is going through a tough economic time at the moment but we are very committed to the region and intend to be here for the long term, through thick and thin.

“We firmly believe that there are opportunities in Latin America and we are acutely aware of the insurance gap that exists in both the life and health side and the property side. With our knowledge and expertise we can contribute tremendously towards closing that gap.”

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